Controls are always our #1 priority, but our vision is to go Beyond Controls.
“Based on a robust and sustainable control platform, we will drive leadership empowerment at all levels by fostering knowledge sharing, automation, and a strategic mindset to enable proactive business partnership as a daily practice.”
Our Finance team has 25 people organized into 4 workstreams:
Inventory & Direct Cost – The Inventory team is responsible for inventory accounting and controls including reconciliations of the inventory at VLOG plants, distribution centers, and consigned inventory at third-party manufacturing sites. The Direct Cost team is responsible for the annual costing of all materials purchased by VLOG. They also investigate and report on variances vs. standard costs.
Trade Finance – The Trade Finance team is responsible for contract management and overseeing external customer sales ensuring supply to patients in more than 100 countries across the globe. They also analyze the quality of our receivables and support our tender business.
Hedging & NPIs – The Hedging team is responsible for hedging foreign currency exposures to protect our P&L (Income Statement) from undesired FX (Foreign Exchange) volatility. This team also reviews PFFs (Product Financial Flows) to support NPI (New Product Introduction) readiness. This could be a new product launch or a change in an existing supply chain (i.e. a new supplier).
Consolidations & Governance – The Consolidations and Governance team is responsible for multiple activities including audit coordination, PTP process, and FP&A. PTP stands for Procure to Pay which focuses on our indirect purchases (i.e. materials and services not used in the manufacturing process). FP&A stands for Financial Planning & Analysis; they keep a close eye on our spend and communicate the monthly results to our Headquarters team in Chicago.